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Advisor Insights

2 Retirement Plan Proposals, Many Questions

Expanded or open MEPs address some problems, but more action is needed.

At the time of this writing, two major proposals in Washington, D.C., let employers band together to offer a retirement plan in an arrangement called a multiple-employer plan, or MEP. In one proposal, the U.S. Department of Labor has issued a draft regulation that would modestly expand the number of employers that could gain access to a MEP. In the other, several members of Congress have reintroduced “open MEP” legislation.

The questions are, how much can we expect from either of these proposals, and if they are finalized, what will need to happen for MEPs to help more people save for retirement?